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Pantera Minerals Limited (ASX:PFE) - QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2024

Pantera Minerals Limited (ASX:PFE)

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HIGHLIGHTS

Company to access brine from Smackover Formation

  • Access to Smackover production well and disposal well allowing for potential Direct Lithium Extraction (DLE) pilot plant location.
  • Re-entry well to provide brine samples for Lithium grade analysis and DLE process testing.

Rig agreement signed for first Smackover test well

  • Rig agreement with Production Services Inc for first well re-entry at its Smackover Lithium Brine Project, Arkansas USA.
  • Initial well work began in mid-October with re-entry beginning early November.

SLB model provides an advanced 3D static model of the brine potential of the Pantera Smackover project received.

  • Subsequent to the end of the quarter, SLB supplied the 3D sub-surface static model. The 3D sub-surface static model confirms the Company’s Project has the potential to host a large and world-class lithium brine resource, analogous to neighbouring Arkansas super majors Exxon Mobil and Equinor/Standard Lithium, both with advanced lithium brine projects.

Continued Smackover Project Growth through the acquisition of additional acreage, total current landholding >26,000 acres. 

Pantera’s land team has also noted the increased leasing competition outside its exclusive abstract area to the west and north further demonstrating the validity of the Smackover as a legitimate lithium brine play.

Pantera Minerals Limited (ASX:PFE) (“Pantera” or the “Company”) is pleased to provide an overview of its quarterly activities for the period ending 30 September 2024 (“Quarter” or “Reporting Period”).

Pantera Executive Chairman and CEO, Barnaby Egerton-Warburton, commented: “Our focus over the last two quarters has been directed towards testing and quantifying the resource we have at our Arkansas Smackover Lithium Project and to this end we look set to spud our first re-entry well test in the first week of November which will deliver the first measured lithium grade at our project and allow us to upgrade our exploration target and add validity to our project”


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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Figure 1 - Pantera Arkansas Lithium Brine Project location showing approximate acreage size and proximity to adjacent lithium brine projects..png

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QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2024.pdf

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